The Philippines and Palau have formalized a groundbreaking cooperation agreement aimed at promoting responsible fishing practices and enhancing trade and investment in the sector. The memorandum of understanding (MOU), signed between the Department of Agriculture-Bureau of Fisheries and Aquatic Resources of the Philippines and Palau’s Ministry of Agriculture, Fisheries, and the Environment, focuses on fighting illegal, unreported, and unregulated (IUU) fishing, sharing technology, and strengthening infrastructure for fisheries.
This agreement, which also pledges alignment with international market standards from the European Union and Japan, addresses the urgent need for the conservation of migratory fish stocks, particularly in the Western and Central Pacific Ocean. This region is home to vital commercial species, such as tuna and billfish, crucial for both nations’ economies.
Agriculture Secretary Francisco P. Tiu Laurel Jr. emphasized the importance of this partnership, noting its potential to serve as a model for global collaboration in marine resource preservation. The agreement also highlights the shared commitment of the two nations to meet international legal frameworks, including those set out by the United Nations Convention on the Law of the Sea.
A Joint Committee will oversee the implementation of the agreement, ensuring annual evaluations and adjustments to meet evolving challenges. The MOU is set to be reviewed in five years, offering flexibility to adapt to emerging priorities. This historic pact is expected to not only boost environmental sustainability but also advance regional economic development, with the promise of inspiring similar efforts worldwide to safeguard marine resources for future generations.
